Venture Blog

Mortgage Moments: Insights from MBA Tech 2022

Venture Solutions
by Venture Solutions

May 04, 2022

Venture Solutions joined leaders in the mortgage, real estate, regulatory, and tech markets at MBA's Technology Solutions Conference to discuss new technologies, strategies, and trends in the mortgage industry.  

Areas of interest include technology innovation, customer retention, digital transformation, and industry trends. 

BE BOLD WITH TECHNOLOGY 

Investments in technology are vital to survival in the mortgage industry, allowing businesses to add value, expand capacity, and improve customer experience. The most impressive technology solutions offer at-a-glance analysis, in addition to in-depth tracking and key performance metrics. APIs offer more flexibility in customization to suit mortgage companies’ needs. Bold technology transforms businesses and provides standardization and diversity to survive a rapidly consolidating industry.

Venture Solutions Mortgage Moments

CUSTOMER RETENTION 

Ease the cost of originations with technology that supports customer retention strategies including engagement, end-to-end automation, and combining investments in people and technology for a more holistic approach. Remember when you invest in technology, you are not only investing in code, you are investing in customers. 

DIGITAL TRANSFORMATION 

Digital transformation is necessary for the continued profitability of the mortgage industry, but government loans are a major hindrance to further innovations in residential mortgage digitization. To tap into the potential of data, organizations must embrace e-adoption. Based on the current state of the industry, data aggregation is not easy, but with further digital transformation, customer mortgage data can be mined and shared to reveal industry trends and inspire future innovation.

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TECHNOLOGY TRENDS 

Operational costs for all peer groups in the industry have nearly doubled in the last year. E-notes up to $600k made up only 5% of total notes in 2021. Therefore, e-signatures and customer documentation technology are the top trending tech needs in 2022 and saw the most growth in 2021.   

 Venture Solutions is committed to supporting the mortgage industry with innovative solutions and strategies. We enjoyed connecting and collaborating with leading industry experts at the conference and look forward to MBA’s next event.  

Out of focus image of approximately seven or eight people gathered around a conference table with one person standing at the head presenting in front of a TV monitor.

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